News
MG Lands 270-Unit Las Vegas Rental Property
MG Properties has acquired The Pearl at St. Rose, a multifamily community in Las Vegas’ Silverado Rancho master-planned community, from The CONAM Group for $64 million. The Pearl at St. Rose is a 270-unit apartment community along the St. Rose Corridor in South Las Vegas. Built in 2000, the property features a range of lifestyle amenities,...
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PENLER Adds Atlanta Property to Growing Portfolio
PENLER partnered with a real estate fund advised by Crow Holdings Capital to acquire three properties throughout the Sunbelt, the most recent being Eleven85, a 288-unit garden-style property in Atlanta. The Atlanta Business Chronicle reports the company paid $67 million. The community’s previous owner paid just under $91 million for it in mid-2022. Other recent acquisitions...
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Developer Duo Ink $38.7M Financing for Pooler Townhome Community
Freehold Capital Management and Rockpoint closed on a $38.7 million financing for Clear Lake Reserve Townhomes, a 199-unit for-rent townhome community in Pooler, Georgia. JLL represented the sponsors, securing a floating-rate, three-year loan through Western Alliance Bank. Chris Drew, Matthew Putterman, and Kenny Cutler led JLL Capital Markets’ Debt Advisory team. Just outside Savannah, Clear...
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Davie Developer Inks Loan for $1B Mixed-Use Project
El-Ad National Properties secured an $85 million construction loan from Valley National Bank to start construction on The District in Davie, a $1 billion, 2.8 million-square-foot mixed-use residential and commercial project in Broward County, FL. It’s believed to be the largest multifamily development in the town’s history. The District in Davie is being delivered...
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Compass, Anywhere to Merge in All-Stock Deal
Compass, Inc. and Anywhere Real Estate Inc. said Monday they had agreed to merge in an all-stock transaction. The combined company is expected to have an enterprise value of approximately $10 billion, including the assumption of debt. The merger has been unanimously approved by the boards of both companies and is expected to close in the...
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Wells Fargo Lends $162M on New Brunswick Luxury Multifamily
JLL Capital Markets secured a $162-million financing for The Raye by Vermella, a 534-unit luxury multifamily development in New Brunswick, NJ. Senior managing director Thomas Didio, managing director Thomas E. Didio, Jr., director Gerard Quinn and associate Michael Mataras worked on behalf of Russo Development, LLC in arranging the three-year, floating-rate loan through Wells Fargo & Company. Located at 51...
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Planning & Development Agency Approves New Downtown Boston Zoning
The Boston Planning & Development Agency (BPDA) voted to approve new zoning for Downtown Boston that would allow towers up to 700 feet tall on certain sites, provided they contained a residential component. The zoning plan goes to Mayor Michelle Wu for her signature. The BPDA said the zoning “meaningfully prioritizes the ability to build...
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CBRE Facilitates $95M Sale of 8th + Republican Apartments in Seattle
CBRE brokered the sale of 8th + Republican Apartments, a 211-unit mid-rise multifamily community located at 430 8th Ave N in Seattle’s South Lake Union neighborhood. The property was acquired by a confidential institutional investor for $94.85 million. CBRE’s Eli Hanacek, Kyle Yamamoto, Mark Washington and Natalie Kasper represented the confidential seller. Completed in 2016,...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout